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Property profile & analytics
OFF-MARKET
Estimated value
$975,000
Medical Office Space
23 Manhattan Sq Hampton, VA 23666-5843
Entity Owned
2-yr Hold
Absentee Owner
~
Est. High Equity
Property ID
US87-3165909
Property profile
Verified
Property type
Medical Office Space
Use group
MEDICAL BUILDING
Year built
2005
Construction
WOOD
Total area
5,968 SF
Lot
0.93 ac (40,602 SF)
Zoning code
14 C-2 LIMITED COMMERCIAL
APN
07R028 01 00000PCF
UPID
US87-3165909
Cap rate & NOI
Priority signal for investors
Implied cap rate, NOI & suggested price
Cap rate vs submarket · NOI estimate · 3 price anchors
Implied cap rate, NOI & suggested price
Cap vs submarket · NOI estimate · 3 price anchors
Current use
Occupant on record · Public records
-
Dr. Jose R. Ongkingco, MD Pediatrician Medical Clinic
-
David Holzsager, MD Pediatrician Medical Clinic
-
Imani R Eichelberger, MD Pediatrician Medical Clinic
-
Dr. Stacy J. Ostapko, MD Pediatrician Medical Clinic
-
Juhi Raizada, MD Pediatrician Medical Clinic
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
$975k
CAP Approach
CAP
$1.31M
Comparable Approach
Comparable
$876k
Blend (final)
Blend
$975k
Owner & transaction history
Manhattan Partnership LLC · 2 yrs held
Manhattan Partnership LLC
since 2024
Last sale
$975,000
3 recorded transactions
Zoning & alternative use
14 C-2 LIMITED COMMERCIAL · Hampton, VA
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Cap rate
Implied · in-place · derived from last sale + estimated NOI
Implied Cap rate
#1
Implied · in-place · NOI ÷ last sale
In-place · derived from last sale + estimated NOI
Cap rate, NOI & submarket benchmark
Implied cap rate vs Hampton submarket · NOI estimate · Typical band, median & reading
Implied cap rate, NOI & submarket benchmark
Cap vs Hampton submarket · NOI estimate · typical band, median & reading
Refine your cap rate
8-question underwriting flow
1.
Property current status — Going-In vs Stabilized
2.
Price for denominator — asking / offer / market
3.
Leasing status & lease structure (NNN / Gross)
4.
Tenant risk profile & vacancy assumption
5.
Upload T12 / rent roll / OM (optional)
Refine in 60 seconds, get exact suggested price
T12 upload · Submarket benchmarks · Sensitivity grid
Suggested price · 3 cap rate anchors
Income approach @ 5% / 7% / 9% — aggressive / typical / conservative
Suggested price at 5% / 7% / 9% cap
Aggressive / typical / conservative · Implied $/SF per anchor · Sensitivity grid
Suggested price at 5% / 7% / 9% cap
Aggressive / typical / conservative · implied $/SF · sensitivity
Value
AI, CAP & Alternative Use estimations · Realmo proprietary blendValue Estimations
Based on Realmo’s proprietary methodology
AI Approach
Method
Estimation
Statistic approach
$975,000
ML approach
$975,000
CAP Approach
CAP Return
Estimation
6%
$1,415,000
6.5%
$1,305,000
7%
$1,210,000
Alternative Use
Use
Estimation
MEDICAL BUILDING
$760,000
Current use
RESTAURANT
$685,000
Change: -10% · Conversion: Difficult
WAREHOUSE, STORAGE
$625,000
Change: -17% · Conversion: Difficult
Blend value · Realmo final
$975k
Range $878k – $1.07M · ±10% · vs last sale $975k (Apr 5 2024)
Last sale anchor
$975k
Apr 5 2024
Realmo estimate · informational only.
These numbers are calculated by our models from public records and may not reflect actual market value.
Not an appraisal.
Verify with a licensed appraiser before transacting. Realmo accepts no liability for divergence from real-world outcomes.
View the full estimation — every method, every assumption
Confidence drivers & risk notes · Custom comparable set · Free for first 3 / day
Full estimation methodology
Every method · every assumption · confidence drivers
Price per SF
Sale + rent benchmarks
Subject property
$163 / SF
Submarket sale & rent benchmarks
Median sale $/SF · Asking & closed rent · Submarket vacancy
Submarket sale & rent benchmarks
Median sale $/SF · asking & closed rent · submarket vacancy
Property tax & assessments
Tax year 2023Property tax & assessments
Tax year 2023
Tax billed
$9,670
Tax year 2023
Assessed value
$974,600
Assessed 2024
Previous assessed
$974,600
+0.0% YoY
Effective rate
0.99%
On assessed value
Assessed land
$220,500
Assessed improvement
$754,100
Land market value
$220,500
Improvement market value
$754,100
Total market value
$974,600
Comparables
6 recent transactions · within 1.5 miComparable in this city
6 recent transactions
Comparable in this City
Similar Nearby for Sale
Similar Nearby for Lease
Recent comparable sales
Sale price & price/SF · Sale date & distance · Adjustments & confidence
Recent comparable sales
Sale price & $/SF · sale date & distance · adjustments
Property description
Physical attributes from public recordsBuilding & lot
Public records
Property type
Medical Office Space
Use group
MEDICAL BUILDING
Status
Off-Market
Year built
2005
Construction
WOOD
Heating
YES
Cooling
CENTRAL
Stories
1
Rooms
1
Total area
5,968 SF
Lot
0.93 ac (40,602 SF)
Zoning code
14 C-2 LIMITED COMMERCIAL
APN
07R028 01 00000PCF
UPID
US87-3165909
Jurisdiction
HAMPTON CITY
Zoning & alternative use
14 C-2 LIMITED COMMERCIAL · Hampton, VA
Zoning 14 C-2 LIMITED COMMERCIAL · permitted uses
14 C-2 LIMITED COMMERCIAL · Hampton, VA
Permitted & conditional uses
Allowed uses · Special-permit conditions · Prohibited uses
Permitted & conditional uses
Allowed · special-permit conditions · prohibited
Hampton. Always verify with local authorities before improvements.
Alternative use value scenarios
Repositioning upside vs current use
MEDICAL BUILDING Current
Est. value
$760,000
RESTAURANT
Est. value
$685,000
WAREHOUSE, STORAGE
Est. value
$625,000
MEDICAL BUILDING Current
RESTAURANT
WAREHOUSE, STORAGE
Alternative use deep dive — conversion cost, permits, timeline
Conversion cost estimate · Permit path & risks · Stabilized NOI per option
Alternative use deep dive
Conversion cost · permit path · stabilized NOI per option
Building & site characteristics
From public records
Year built
2005
Construction
WOOD
Heating
YES
Cooling
Yes
Stories
1
Rooms
1
Lot
0.93 ac
Current owner
From public records · entity-resolved
Manhattan Partnership LLC
Entity
Mailing address
321 MAIN ST, NEWPORT NEWS, VA 23601-3814
Mailing matches property
Different — outreach signal
Owner-occupied
No
Ownership since
2024
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
3 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Apr 5, 2024
$975,000
Manhattan Partnership LLC
Butler Farms LLC
Warranty Deed
$780,000 · Townebank
Sep 29, 2021
—
Butler Farms LLC
—
Deed
related
$470,000 · Integrity Bank For Business
Aug 27, 2019
—
Butler Farms LLC
—
Deed
related
$530,000 · Virginia Commonwealth Bank
Coming soon
Costs & Benchmarks
Operating expenses, capex projections, utility benchmarks, and submarket comparables — all in one view.
Coming soon
Risks
Flood, climate, environmental, title, and tenant-concentration risk — surfaced with mitigations and source citations.
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